Foster Wheeler Awarded Circulating Fluidized-Bed Boiler by Soderenergi AB in Sweden
July 18 2007 - 9:00AM
Business Wire
Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that a
subsidiary of its Global Power Group has been awarded a contract by
Soderenergi AB for a 240 megawatt thermal (MWth) circulating
fluidized-bed (CFB) boiler island to be located at the Igelsta
combined heat and power (CHP) plant in Sodertalje, Sweden. The
Igelsta CHP unit will be Sweden�s largest bio-fuelled combined heat
and power unit. Foster Wheeler has received a full notice to
proceed on this contract, which will be included in Foster
Wheeler�s second-quarter 2007 bookings. Foster Wheeler will supply
the 240 thermal megawatt CFB boiler and auxiliary equipment, and
will carry out the erection and commissioning of the boiler island.
The boiler will be designed to burn biomass fuels, demolition wood
and refuse extracted fuels. Commercial operation of the new boiler
is scheduled for the end of 2009. �This award continues to confirm
our customers� confidence in our CFB technology, which is ideally
suited to burning biomass efficiently and with low emissions,� said
James E. Stone, president and chief executive officer, Foster
Wheeler Power Group Europe. �This latest award demonstrates that we
provide environmentally sound and cost-effective solutions to our
customers.� "We are looking forward to cooperating with Foster
Wheeler, a company we consider to be very competent in this field,�
said Leif Bodinson, CEO of S�derenergi. Soderenergi AB is an energy
company that was set up for generating heat for district heating,
and it supplies heat to around 70,000 households, industrial plants
and offices. Foster Wheeler Ltd. is a global company offering,
through its subsidiaries, a broad range of engineering,
procurement, construction, manufacturing, project development and
management, research and plant operation services. Foster Wheeler
serves the refining, upstream oil and gas, LNG and gas-to-liquids,
petrochemical, chemicals, power, pharmaceuticals, biotechnology and
healthcare industries. The corporation is based in Hamilton,
Bermuda, and its operational headquarters are in Clinton, New
Jersey, USA. For more information about Foster Wheeler, visit our
Web site at www.fwc.com. Safe Harbor Statement Foster Wheeler news
releases may contain forward-looking statements that are based on
management�s assumptions, expectations and projections about the
Company and the various industries within which the Company
operates. These include statements regarding the Company�s
expectations regarding revenues (including as expressed by its
backlog), its liquidity, the outcome of litigation and legal
proceedings and recoveries from customers for claims, and the costs
of current and future asbestos claims, and the amount and timing of
related insurance recoveries. Such forward-looking statements by
their nature involve a degree of risk and uncertainty. The Company
cautions that a variety of factors, including but not limited to
the factors described in Part II, Item 1A �Risk Factors� of the
Company�s most recent quarterly report on Form 10-Q and the
following, could cause the Company�s business conditions and
results to differ materially from what is contained in
forward-looking statements: changes in the rate of economic growth
in the United States and other major international economies,
changes in investment by the oil and gas, oil refining,
chemical/petrochemical and power industries, changes in the
financial condition of its customers, changes in regulatory
environment, changes in project design or schedules, contract
cancellations, changes in estimates made by the Company of costs to
complete projects, changes in trade, monetary and fiscal policies
worldwide, currency fluctuations, war and/or terrorist attacks on
facilities either owned or where equipment or services are or may
be provided, interruptions to shipping lanes or other methods of
transport, outcomes of pending and future litigation, including
litigation regarding the Company�s liability for damages and
insurance coverage for asbestos exposure, protection and validity
of its patents and other intellectual property rights, increasing
competition by foreign and domestic companies, compliance with its
debt covenants, recoverability of claims against its customers and
others by the Company and clams by third parties against the
Company, changes in estimates used in its critical accounting
policies. Other factors and assumptions not identified above were
also involved in the formation of these forward-looking statements
and the failure of such other assumptions to be realized, as well
as other factors, may also cause actual results to differ
materially from those projected. Most of these factors are
difficult to predict accurately and are generally beyond the
Company�s control. You should consider the areas of risk described
above in connection with any forward-looking statements that may be
made by the Company. The Company undertakes no obligation to
publicly update any forward-looking statements, whether as a result
of new information, future events or otherwise. You are advised,
however, to consult any additional disclosures the Company makes in
proxy statements, quarterly reports on Form 10-Q, annual reports on
Form 10-K and current reports on Form 8-K filed with the Securities
and Exchange Commission.
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